Join estate planning attorney Tim Borchers for an in-depth webinar that delves into the complexities and solutions surrounding second homes and Heirloom Property ownership. Tim will start by examining what sets Heirloom Properties apart and why they present unique challenges that demand specialized attention to avoid tearing families apart. Using real-life case studies, he will explore the pitfalls commonly associated with co-ownership and share insights from personal experiences. The session will guide you through essential legal frameworks and strategies for successfully passing down such properties, focusing on key ownership and organizational terms.
Attendees will learn:
- How to construct a robust Heirloom Agreement with our 6 key elements, encapsulated in the acronym "AUGUST."
- Asset protection strategies for second homes, including various trusts, estate planning tools, and considerations for Medicaid and tax basis.
- How to shield the property from creditors and resolve potential claims from heirs, while also gaining knowledge on financial structures and funding techniques.
- The steps to take as the term of ownership comes to an end, ensuring a seamless transition for future generations.
*CE/CPE Eligible: 1 CE credit is available to subscribers with these designations: CFP, CLU, ChFC and RICP. CPA subscribers will earn 1 CPE credit.
Field of Study: Specialized Knowledge
Prerequisites: There are no prerequisites for this session.
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based
NASBA Approved
Financial Experts Network (Sponsor Id#: 145173) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.